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World News

General Motors shares jump on Wall Street

General Motors (GM) stock began trading on Wall Street again Nov. 18, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion (¥4.1 trillion) infusion from taxpayers.

The stock rose sharply in its first minutes of buying and selling, going for nearly $36 (¥3,000) per share — almost $3 (¥250) more than the price GM set for the initial public offering. The stock pulled back slightly by early afternoon and closed at $34.19 (¥2,840). It had traded for less than a dollar when the old company filed for bankruptcy last year.

On the floor of the New York Stock Exchange, a crowd jostled around the company's trading post, adorned with its familiar blue-square logo with an underlined "GM." (AP)

Shukan ST: December 3, 2010

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World News General Motors shares jump on Wall Street General Motors (GM) stock began trading on Wall Street again Nov. 18, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion (¥4.1 trillion) infusion from taxpayers. The stock rose sharply in its first minutes of buying and selling, going for nearly $36 (¥3,000) per share — almost $3 (¥250) more than the price GM set for the initial public offering. The stock pulled back slightly by early afternoon and closed at $34.19 (¥2,840). It had traded for less than a dollar when the old company filed for bankruptcy last year. On the floor of the New York Stock Exchange, a crowd jostled around the company's trading post, adorned with its familiar blue-square logo with an underlined "GM." (AP) Shukan ST: December 3, 2010 (C) All rights reserved